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"Well Done - Simulation Complete"
Page 38 of 38
"Complete all scenarios before attempting the Assessment.
Review the content
in the Tax Tutorial
as well".
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Summary:Congratulations, James! You've successfully filed your return by the tax deadline. |
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Rita Bentley (Sim 14A) Using Form 1099-INT to Complete Schedule C, Schedule SE, and Form 1040 In this simulation, you will take on the role of Rita A. Bentley in order to learn how to claim self-employment income. |
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Using Form 1099-INT to Complete Schedule C, Schedule SE, and Form 1040
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You are a full-time high school student. After school and on weekends, you take care of pets while their owners are traveling. You are not an employee. You are correctly classified as an independent contractor. It's the last day of the year. You earned $1,700.00 by walking dogs as well as by feeding various pets, including dogs, cats, and birds. You have receipts for all of the business expenses. Supplies, including dog treats, plastic bags, collars, and leashes: $40.00 Notebook to track income and expenses: $5.00 You deposit your earnings in a savings account. You will use the money to pay for your college education. During the year you earned $54.00 of interest income on your savings. Your mother provided all of your support. To review your personal information, click My Profile. |
